Collection agency tactic. They want you to 'respond' in writing or by phone correct?
Toss it in the trash...BofA cannot sue you.
Collection agency tactic. They want you to 'respond' in writing or by phone correct?
Toss it in the trash...BofA cannot sue you.
These collection agencies pay a package fee to have these ridiculous notices served and it scares the hell out of people. They (the debtors) actually believe it is a summons to appear in court. It is not.
If you declare bankruptcy then you will be required by federal law to repay B of A. That means your future wages and bank account is fair game.
For now nobody can touch you other than the IRS for unpaid taxes, and they do not issue credit cards.
These collection agencies pay a package fee to have these ridiculous notices served and it scares the hell out of people. They (the debtors) actually believe it is a summons to appear in court. It is not.
If you declare bankruptcy then you will be required by federal law to repay B of A. That means your future wages and bank account is fair game.
For now nobody can touch you other than the IRS for unpaid taxes, and they do not issue credit cards.
BRAV-FUCKING-O!!!
Couldn't have said it better myself. FUCK BOA. Make the best decision for you. Don't give a fuck what anyone else thinks.
BRAV-FUCKING-O!!!
Couldn't have said it better myself. FUCK BOA. Make the best decision for you. Don't give a fuck what anyone else thinks.
Hire one of those debt relief companies, they can make your CC balances about half what you actually owe. Yes, your credit may be screwed up for awhile, but when you get this paid back, in about 2/3 years, you credit will be right back up to where it was. Instead of the TEN years a BR stays on and kills your credit.
JMHO>BOL
Hire one of those debt relief companies, they can make your CC balances about half what you actually owe. Yes, your credit may be screwed up for awhile, but when you get this paid back, in about 2/3 years, you credit will be right back up to where it was. Instead of the TEN years a BR stays on and kills your credit.
JMHO>BOL
Hire one of those debt relief companies, they can make your CC balances about half what you actually owe. Yes, your credit may be screwed up for awhile, but when you get this paid back, in about 2/3 years, you credit will be right back up to where it was. Instead of the TEN years a BR stays on and kills your credit.
JMHO>BOL
I agree. FWIW Mr. Schust, I have filed for bankruptcy. Twice. It's a very
long road back to getting a solid credit score. If you're married, you
can build up the Mrs.' credit and if you do that, file your taxes
individually rather than jointly. This way your wife cannot be messed
with and the IRS, or anyone else, cannot get their hands on what little you have. I had to have my father-in-law co-sign when we got our first
mortgage and it sucked.
You have to get with a credit fixing company and determine if bankruptcy will make your credit score worse, or if the damage is already at or near it's bottom. When you've made that conclusion and you know your course of action, then you need to have them fix the mess. I used these guys and they were great: https://www.ovationcredit.com/
One of my employees owed $40K or so in student loans. He called the collection agency and told them if they remove the negative things from his credit, he'll settle with them for $15K. They did it.
I don't understand why some people on here have said that BoA cannot sue you. Of course, BoA isn't suing you, the collection agency is. I've been told that in America anyone can sue anyone. Is there some sort of dictum that disallows financial institutions from pursuing legal means to collect? I've never heard that.
Your employer shouldn't fire you over garnished wages. They're already doing it with some of your co-workers for their ex-wives child support and/or alimony. You should be safe there.
In the future, be communicative with these people. When you hang up on them, don't return calls, or are generally rude, regardless of how they act, you're going to get this sort of response. Talk to them. They're humans with emotions and you can win them over.
Never say good luck, say Happy Hunting!
Hire one of those debt relief companies, they can make your CC balances about half what you actually owe. Yes, your credit may be screwed up for awhile, but when you get this paid back, in about 2/3 years, you credit will be right back up to where it was. Instead of the TEN years a BR stays on and kills your credit.
JMHO>BOL
I agree. FWIW Mr. Schust, I have filed for bankruptcy. Twice. It's a very
long road back to getting a solid credit score. If you're married, you
can build up the Mrs.' credit and if you do that, file your taxes
individually rather than jointly. This way your wife cannot be messed
with and the IRS, or anyone else, cannot get their hands on what little you have. I had to have my father-in-law co-sign when we got our first
mortgage and it sucked.
You have to get with a credit fixing company and determine if bankruptcy will make your credit score worse, or if the damage is already at or near it's bottom. When you've made that conclusion and you know your course of action, then you need to have them fix the mess. I used these guys and they were great: https://www.ovationcredit.com/
One of my employees owed $40K or so in student loans. He called the collection agency and told them if they remove the negative things from his credit, he'll settle with them for $15K. They did it.
I don't understand why some people on here have said that BoA cannot sue you. Of course, BoA isn't suing you, the collection agency is. I've been told that in America anyone can sue anyone. Is there some sort of dictum that disallows financial institutions from pursuing legal means to collect? I've never heard that.
Your employer shouldn't fire you over garnished wages. They're already doing it with some of your co-workers for their ex-wives child support and/or alimony. You should be safe there.
In the future, be communicative with these people. When you hang up on them, don't return calls, or are generally rude, regardless of how they act, you're going to get this sort of response. Talk to them. They're humans with emotions and you can win them over.
Never say good luck, say Happy Hunting!
With sobering facts and black humor, this thought-provoking documentary unveils the consequences of our collective addiction to debt -- including its contribution to the vanishing act of a once-robust... Read More
With sobering facts and black humor, this thought-provoking documentary unveils the consequences of our collective addiction to debt -- including its contribution to the vanishing act of a once-robust... Read More
With sobering facts and black humor, this thought-provoking documentary unveils the consequences of our collective addiction to debt -- including its contribution to the vanishing act of a once-robust... Read More
Smart man is callme.
With sobering facts and black humor, this thought-provoking documentary unveils the consequences of our collective addiction to debt -- including its contribution to the vanishing act of a once-robust... Read More
Smart man is callme.
shit link buddy
shit link buddy
Everything said here about service of process and filing bankruptcy I completely and utterly agree with. Most people don't realize that bankruptcy laws are codified in the US Constitution. Roughly speaking, the Constitution states that Congress shall have to the power to provide uniform bankruptcy protection. Therefore, filing bankruptcy in the US is no different than exercising any other consitutional right but all commentators (including Dave Ramsey who I think is just as big of a gas bag as Rush Limbaugh) basically condone bankruptcy like it is an evil plage and people who file will wear a scarlett letter for life. Bottom line is that bankruptcy laws are available to give everyone a fresh strart in life so that our capalistic/free-enterprise economy can keep going. I have really researched this issue to great lengths so if anyone wants to wax philosophically about this subject I am more than happy to do so.
Disclosure: I am a bankrutpcy attorney but I frankly went to law school to get involved with debtor/creditor law as I felt that it was an area I could really help people.
Talk to a bankruptcy attorney in your area. See if you qualify for a chapter 7 bankruptcy. The filing fee is only $299 plus whatever they charge for attorneys fees so don't let them BS you on the price. Make sure that they services include everything from the preparation of the bankruptcy Petition and Schedules, to representing you at the 341 hearing, to filing a motion to discharge judgments and avoid leins (the later only if you own real estate). You want to make sure that this attorney is going to represent you from beginning to end. My experience with a lot of attorneys is that everyone seems to think that bankruptcy law is easy and frankly it is 90% of the time but it is that 10% unusual case that you need a good bankruptcy attorney as opposed to one who just want to take your money. BOL but yes you are young enough to make your second chance work.
Everything said here about service of process and filing bankruptcy I completely and utterly agree with. Most people don't realize that bankruptcy laws are codified in the US Constitution. Roughly speaking, the Constitution states that Congress shall have to the power to provide uniform bankruptcy protection. Therefore, filing bankruptcy in the US is no different than exercising any other consitutional right but all commentators (including Dave Ramsey who I think is just as big of a gas bag as Rush Limbaugh) basically condone bankruptcy like it is an evil plage and people who file will wear a scarlett letter for life. Bottom line is that bankruptcy laws are available to give everyone a fresh strart in life so that our capalistic/free-enterprise economy can keep going. I have really researched this issue to great lengths so if anyone wants to wax philosophically about this subject I am more than happy to do so.
Disclosure: I am a bankrutpcy attorney but I frankly went to law school to get involved with debtor/creditor law as I felt that it was an area I could really help people.
Talk to a bankruptcy attorney in your area. See if you qualify for a chapter 7 bankruptcy. The filing fee is only $299 plus whatever they charge for attorneys fees so don't let them BS you on the price. Make sure that they services include everything from the preparation of the bankruptcy Petition and Schedules, to representing you at the 341 hearing, to filing a motion to discharge judgments and avoid leins (the later only if you own real estate). You want to make sure that this attorney is going to represent you from beginning to end. My experience with a lot of attorneys is that everyone seems to think that bankruptcy law is easy and frankly it is 90% of the time but it is that 10% unusual case that you need a good bankruptcy attorney as opposed to one who just want to take your money. BOL but yes you are young enough to make your second chance work.
I do agree that bankruptcy should be a last option. The law set it up this way. It just sounds like he is how at his last option. Moreover, my point is that anyone who files bankruptcy should never feel bad for a second as it is a constitutionally protected event.
Additionally, Donald Trump has never personally filed bankruptcy. His businesses have filed bankruptcy. His businesses have filed bankruptcy a lot more than twice. He has used the bankruptcy laws as leverage. In other words, he takes on numerous business ventures and the ones that are successful he keeps and the ones that are not he cuts the strings and files bankruptcy on. It is basically a capital saver. Additionally, it should be known that Donald Trump lists his "official" residence with the IRS as Florida. Why do you think this is? Florida has the most liberal bankruptcy laws in the union. He is very smart and has very good financial advisors. If Mr. Trump would have to ever personally file bankruptcy he is still going to walk away with substantial financial strength. PS Why do you think OJ moved to Florida before the civil verdict was announced?
I do agree that bankruptcy should be a last option. The law set it up this way. It just sounds like he is how at his last option. Moreover, my point is that anyone who files bankruptcy should never feel bad for a second as it is a constitutionally protected event.
Additionally, Donald Trump has never personally filed bankruptcy. His businesses have filed bankruptcy. His businesses have filed bankruptcy a lot more than twice. He has used the bankruptcy laws as leverage. In other words, he takes on numerous business ventures and the ones that are successful he keeps and the ones that are not he cuts the strings and files bankruptcy on. It is basically a capital saver. Additionally, it should be known that Donald Trump lists his "official" residence with the IRS as Florida. Why do you think this is? Florida has the most liberal bankruptcy laws in the union. He is very smart and has very good financial advisors. If Mr. Trump would have to ever personally file bankruptcy he is still going to walk away with substantial financial strength. PS Why do you think OJ moved to Florida before the civil verdict was announced?
This can be effective too. Follow this statregy to letter and it could work. However, if you settle say your 9k debt for 3k you should be aware that you might have to pay taxes on the 6k that was basically forgiven if that creditor (or creditors) file form 1099s. BOL!
This can be effective too. Follow this statregy to letter and it could work. However, if you settle say your 9k debt for 3k you should be aware that you might have to pay taxes on the 6k that was basically forgiven if that creditor (or creditors) file form 1099s. BOL!
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